Finally, there’s been a release of the RGB platform’s beta version so long-awaited in crypto community.
New opportunities for issuing tokens based on BTC.
This was reported on Twitter by Olga Ukolova who shared a video previously posted on June, 25th on a YouTube channel belonging to the Association for LNP/BP standards. The video demonstrated the RGB demo-version.
The video explained how to issue digital assets on the basis of the new system, and also how to send/get them.
RGB – is a protocol that enables to design digital assets within Bitcoin’s blockchain, since, unlike Ehereum, this option is not initially built into BTC chains.
The projects represents the revival of an old concept of “Colored Coin” with an emphasis on integration with Lightning Network and client-friendly architecture developed by Pinter Todd.
RGB aim is to offer options for use with an acceptable standard, maximum scalability and confidentiality, using the existing strong points of BTC protocol, such as transparency, eminent’s autonomy and openness.
Actually, according to RGB developers, Ethereum and ERC20 are not the ideal standards and may finally be replaced. So RGB is an alternative for tokens issued on the basis of Ethereum but built on BTC.
It was the Lightning Network designing that made it possible to launch such platform making it scalable, private and confidential. In other words, using the power of native LN opportunities and the BTC blockchain security, RGB was developed as an alternative to Ethereum and other blockchains that provide the opportunity to issue digital assets.